Money talks in e-mail marketing
Posted by Dominic Yeadon 10 Dec 2009
This week's Masterclass is all about how you talk about money in your own e-newsletter. Are you shy or forthright about it? Each approach has its merits and drawbacks. (How comfortable are you asking for those pounds, euros or dollars?)
 Money in subject lines? (100%+)
If your subject line contains 'arrival of exciting new products' you only get a fraction of the open rate you get if it contains '50% discount in your e-store'.
Q. Why Dom? Because money in subject lines motivates. If your subscribers think there is a deal to be had they will open your e-newsletter to investigate. Our TMB e-mail marketing clients see significant uplifts when A/B testing money vs product subject lines.
Money in links? (300%+)
Things change inside the e-newsletter however. If you give subscribers the choice between 'buy now' or 'more info' they click 'more info' around three times as often as 'buy now'.
Q. Why Dom? Because money in links intimidates. They choose the link with the least potential financial commitment. The link that leaves them in complete control over the next step. User testing has demonstrated that clicking a 'buy now' link is too strong for subscribers who do however go on to become shoppers after clicking the softer 'more info' link.
 So, to maximise opens and clicks; talk money in your subject lines but not in your links.
ABOUT THAT FREE GOLD BAR - talking about money, next week I am giving away free gifts from www.iwantoneofthose.com in a moment of festive celebration. You will be able to browse a selection of 24 hand-selected gifts (chosen by TMBers) in a hand-crafted Xmas e-card where you can ask your TMB Santa for a gift worth up to £50.00 for FREE! Choose from hampers, speakers, gold bars, guinea pigs, grannies, sumo suits, stylophone etc. My way of saying thank you for continuing to receive my Masterclass e-mails.
 Summary: recession-busting e-commerce growth of a zillion % up on last year is yet more evidence of our continuing online affluenza. We still avoid financial commitment until the last minute however. Give your e-newsletter subscribers every opportunity to explore without forcing them to commit financially too early. The ones who buy buy anyway plus you also pick up extra window shoppers ('more info' clickers) along the way.
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